Readystate Asset Management LP Has $5.69 Million Holdings in Organon & Co. (NYSE:OGN)

Readystate Asset Management LP raised its holdings in Organon & Co. (NYSE:OGN) by 3,452.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 394,336 shares of the company’s stock after acquiring an additional 383,236 shares during the quarter. Readystate Asset Management LP’s holdings in Organon & Co. were worth $5,686,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OGN. Lindbrook Capital LLC lifted its stake in Organon & Co. by 348.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock valued at $27,000 after buying an additional 1,428 shares during the period. Wellington Shields Capital Management LLC acquired a new position in Organon & Co. in the fourth quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd lifted its stake in Organon & Co. by 495.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock valued at $28,000 after buying an additional 1,333 shares during the period. Gladius Capital Management LP lifted its stake in Organon & Co. by 65.1% in the fourth quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock valued at $31,000 after buying an additional 858 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Organon & Co. in the third quarter valued at approximately $35,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group boosted their price target on Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th.

Organon & Co. Price Performance

Shares of NYSE:OGN traded up $0.08 during trading on Wednesday, reaching $17.87. 2,798,012 shares of the stock were exchanged, compared to its average volume of 2,772,339. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $24.79. The stock has a fifty day moving average of $17.96 and a two-hundred day moving average of $15.61. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 4.47, a price-to-earnings-growth ratio of 0.84 and a beta of 0.83.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. Sell-side analysts forecast that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 annualized dividend and a yield of 6.27%. Organon & Co.’s dividend payout ratio (DPR) is currently 28.00%.

Insider Buying and Selling

In related news, insider Kirke Weaver purchased 2,720 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the acquisition, the insider now owns 15,181 shares of the company’s stock, valued at approximately $278,723.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.17% of the stock is currently owned by corporate insiders.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.